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Moody’s Gives AAA Ratings to Tokenized Money Market Funds From Fidelity and BlackRock

The ratings agency said the top-grade assessments cover tokenized money market funds as the tokenized U.S. Treasury sector reaches $15 billion in assets under management.

Summary

Moody’s awarded its top AAA rating to tokenized money market funds from Fidelity and BlackRock, according to the source. The decision signals that the ratings agency views the funds’ credit quality and liquidity favorably, an important benchmark for onchain yield products. The update comes as the tokenized Treasury sector—blockchain-based funds backed by U.S. government debt—has reached $15 billion in assets under management, highlighting continued institutional interest in bringing traditional fixed-income products onto blockchain rails.

Terms & Concepts
  • Tokenized money market fund: A money market fund represented on a blockchain, allowing investors to hold and transfer fund interests as digital tokens.
  • Onchain yield products: Blockchain-based investment products that generate returns, often from underlying assets such as U.S. Treasuries or cash-like instruments.
  • Tokenized Treasury: A blockchain-based representation of U.S. Treasury exposure, typically designed to combine government debt yields with faster digital settlement.